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Europe Steam Methane Reforming Liquid Hydrogen Market Trends

Report ID: GMI9902
Published Date: Jun 2024
Report Format: PDF

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Europe Steam Methane Reforming Liquid Hydrogen Market Trends

Increasing energy demand, particularly from sectors such as industrial manufacturing and transportation is improving liquid hydrogen adoption, making it an attractive option for storage and transportation, ensuring a steady energy supply even during peak demand periods thereby escalating process growth. SMR cost-competitiveness combined with its ability to produce large volumes of hydrogen is set to influence the industry growth.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The market size of Europe steam methane reforming liquid hydrogen was worth USD 8.3 billion in 2023 and is projected to expand at 7.2% CAGR from 2024 to 2032, on account of the rising commitment to reduce carbon emissions coupled with growing government supportive policies, incentives, subsidies, and funding for hydrogen projects.

The pipeline distribution segment in the Europe steam methane reforming liquid hydrogen market is estimated to account for more than USD 12 billion by 2032, due to the growing demand for clean energy, expanding hydrogen infrastructure, and advancements in pipeline technology.

The transportation end-use segment in the Europe steam methane reforming liquid hydrogen industry will expand at over 7.5% CAGR between 2024 and 2032, owing to the stringent environmental regulations, ambitious climate goals coupled with rising technological advancements.

Germany steam methane reforming liquid hydrogen industry is projected to exceed USD 2.8 billion by 2032, due to the presence of robust industrial sector coupled with companies increasing hydrogen adoption to replace fossil fuels and reduce emissions.